Crypto donations from around the world have aided both the Ukraine government as well as certain private firms like digital news sites covering the ongoing war with Russia.
Crypto transfers can be low-cost and moved quickly (depending on the digital asset) and charitable transfers to the Ukrainian government total more than $60 million.
Aid for Ukraine
As was previously reported, a consortium of crypto industry participants collaborated to create a site for the Ukrainian government to accept funds, managed by the Ministry of Digital Transformation of Ukraine. The site accepts a long list of cryptocurrencies including:
- Bitcoin
- Ethereum
- Tether
- Terra
- Solana
- Polkadot
- NEAR
- Cardano
- Dogecoin
- Algorand
- Stellar
- Hedera
- Monero
- ICON
- Casper
More traditional wire transfers are being accepted as well.
The site also reports what the donations are funding like military equipment for the army, or medical equipment, food and more.
Our Army will be even more fast & furious. Crypto fund @_AidForUkraine has managed to supply our defenders with 5 additional pickup trucks; overall 23 vehicles were funded. These cars will contribute to the mobility of soldiers and as a result to greater achievements. pic.twitter.com/yRvlrk4ZNf
— Mykhailo Fedorov (@FedorovMykhailo) April 26, 2022
More recently, non-fungible tokens (NFTs) have been leveraged to help raise more funds.
JUST IN: we've added the #NFT section to our website: now you can donate or buy NFTs, and all proceeds will go to @_AidForUkraine.
Buy the first #CryptoPunk from our library or donate another one at https://t.co/BfSZcFXl99 pic.twitter.com/AOrwBBfPZF
— Aid For Ukraine 🇺🇦 (@_AidForUkraine) April 27, 2022
In total, Merkle Science reports that over $116 million in crypto has been donated (including government entities and others). Merkle was tracking everything, at least until recently. The “Come Back Alive” charity has received almost $20 million in crypto but smaller donations are supporting firms like the Kyiv Independent news operation.
One of the challenges Ukraine will unfortunately face is diminishing global interest – if the war drags on for many months or years. Yet, the unprovoked invasion by Russia has global ramifications that threaten the entire planet. While crypto donations may be slowing down lets hope the free world remains resolute in support of the beleaguered country in its battle against Russian tyranny.